KMG Chemicals, Inc. (KMG) Major Shareholder Sells $1,986,600.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 30,000 shares of KMG Chemicals stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $66.22, for a total value of $1,986,600.00. Following the sale, the insider now directly owns 1,181,097 shares of the company’s stock, valued at approximately $78,212,243.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE KMG) traded down $1.27 during midday trading on Friday, hitting $65.76. The stock had a trading volume of 246,783 shares, compared to its average volume of 158,209. KMG Chemicals, Inc. has a 12 month low of $36.29 and a 12 month high of $68.13. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.92 and a current ratio of 2.87. The company has a market cap of $1,030.00, a price-to-earnings ratio of 34.43 and a beta of 0.53.
KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company had revenue of $110.70 million during the quarter, compared to analyst estimates of $106.60 million. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. sell-side analysts anticipate that KMG Chemicals, Inc. will post 3.17 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of KMG Chemicals by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock valued at $29,609,000 after acquiring an additional 43,214 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of KMG Chemicals by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock valued at $18,316,000 after acquiring an additional 34,875 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of KMG Chemicals by 5.8% in the 3rd quarter. Wells Fargo & Company MN now owns 312,563 shares of the specialty chemicals company’s stock valued at $17,154,000 after acquiring an additional 17,244 shares during the last quarter. Numeric Investors LLC lifted its stake in shares of KMG Chemicals by 82.6% in the 2nd quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock valued at $12,743,000 after acquiring an additional 118,440 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of KMG Chemicals by 15.4% in the 2nd quarter. State Street Corp now owns 162,609 shares of the specialty chemicals company’s stock valued at $7,916,000 after acquiring an additional 21,712 shares during the last quarter. 56.17% of the stock is owned by institutional investors.
Several brokerages have issued reports on KMG. KeyCorp reaffirmed a “buy” rating and set a $70.00 price target (up previously from $63.00) on shares of KMG Chemicals in a research note on Wednesday, December 13th. ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research lowered KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $70.00.
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About KMG Chemicals
KMG Chemicals, Inc manufactures, formulates and globally distributes specialty chemicals. The Company operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Company operates through two segments: Electronic chemicals and Other chemicals.
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